Blend Labs, Inc. (NYSE:BLND – Get Free Report) insider Nima Ghamsari sold 27,775 shares of the business’s stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $0.92, for a total transaction of $25,553.00. Following the sale, the insider directly owned 7,750,693 shares in the company, valued at approximately $7,130,637.56. This represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nima Ghamsari also recently made the following trade(s):
- On Monday, October 12th, Nima Ghamsari sold 25,098 shares of Blend Labs stock. The shares were sold at an average price of $0.97, for a total transaction of $24,345.06.
- On Monday, October 5th, Nima Ghamsari sold 24,272 shares of Blend Labs stock. The stock was sold at an average price of $1.02, for a total value of $24,757.44.
- On Monday, September 28th, Nima Ghamsari sold 22,523 shares of Blend Labs stock. The stock was sold at an average price of $1.10, for a total value of $24,775.30.
- On Monday, September 21st, Nima Ghamsari sold 21,009 shares of Blend Labs stock. The stock was sold at an average price of $1.19, for a total value of $25,000.71.
Blend Labs Price Performance
NYSE BLND opened at $1.09 on Thursday. Blend Labs, Inc. has a 1-year low of $0.88 and a 1-year high of $3.62. The company has a market capitalization of $258.98 million, a P/E ratio of -12.17 and a beta of 1.08. The business has a 50 day moving average price of $1.27 and a 200 day moving average price of $1.52.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of BLND. Capricorn Fund Managers Ltd acquired a new stake in Blend Labs during the 1st quarter valued at $11,049,000. Sei Investments Co. raised its holdings in shares of Blend Labs by 99.0% in the first quarter. Sei Investments Co. now owns 258,688 shares of the company’s stock worth $440,000 after acquiring an additional 128,677 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Blend Labs in the second quarter worth $212,000. Rice Hall James & Associates LLC raised its holdings in shares of Blend Labs by 14.0% in the first quarter. Rice Hall James & Associates LLC now owns 1,006,289 shares of the company’s stock worth $1,711,000 after acquiring an additional 123,699 shares during the last quarter. Finally, Irenic Capital Management LP lifted its position in shares of Blend Labs by 3.6% in the second quarter. Irenic Capital Management LP now owns 2,284,101 shares of the company’s stock valued at $3,906,000 after acquiring an additional 79,901 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Citizens Jmp restated a “market outperform” rating and issued a $4.00 price target on shares of Blend Labs in a research report on Tuesday, July 21st. Weiss Ratings lowered shares of Blend Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. Wall Street Zen raised shares of Blend Labs from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Wells Fargo & Company lowered their price objective on shares of Blend Labs from $4.00 to $3.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Finally, Citigroup restated a “market outperform” rating on shares of Blend Labs in a report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.82.
Get Our Latest Stock Report on BLND
Blend Labs Company Profile
Blend Labs, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to digitize and streamline the process of applying for, underwriting and closing financial products, helping institutions deliver more consistent experiences across digital and physical channels.
The company’s solutions support a range of lending and banking activities, including consumer deposit accounts, mortgages, home equity loans, personal loans, auto loans and credit cards.
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